# Central bank sold roughly $7 billion to stabilise forex market

> The State Bank of Vietnam sold about US$7 billion in the first five months of 2022 to balance dollar supply and demand. The dong depreciated about 1% on the official market during May and early June, while most major currencies fell much more against the dollar.

- Date: 2022-06-24 · published 2022-06-24T12:00:00.000Z
- Category: policy · region Vietnam · magnitude low
- Page: https://feedsoft.ai/events/41261-central-bank-sold-roughly-7-billion-to-stabilise-forex-market
- Commodities: [Vietnamese Dong (VND per USD)](https://feedsoft.ai/c/USDVND.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Central bank dollar sales hold the dong relatively stable, which limits the rise in Vietnamese feed import costs even as the dollar strengthens globally.

## Read by commodity

- DXY: bullish ▲
- USDVND: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-06-21 | [SBV ready with funds to keep forex market stable: official](https://feedsoft.ai/events/41259-sbv-ready-with-funds-to-keep-forex-market-stable-official.md) | -0.9% | +1.0% |
| DXY | 2021-06-24 | [Corn Market 271 \| Maiz'Europ'](https://feedsoft.ai/events/46612-corn-market-271-maiz-europ.md) | +0.2% | +1.0% |
| DXY | 2020-10-29 | [Brexit Progress Supports Pound Sterling against Euro and Dollar in a Stormy Market](https://feedsoft.ai/events/50877-brexit-progress-supports-pound-sterling-against-euro-and-dollar-in-a-stormy.md) | -0.5% | -2.2% |
| DXY | 2022-04-06 | [Oil slumps to three-week low after Fed minutes, big IEA reserve release announcement \| Reuters](https://feedsoft.ai/events/41761-oil-slumps-to-three-week-low-after-fed-minutes-big-iea-reserve-release.md) | +0.6% | +3.4% |
| DXY | 2018-02-07 | [U.S. Dollar Rises Following Budget Agreement - WSJ](https://feedsoft.ai/events/12001-u-s-dollar-rises-following-budget-agreement-wsj.md) | +0.2% | +0.7% |

## Sources

- vietnamnet.vn: https://vietnamnet.vn/en/central-bank-sold-roughly-7-billion-to-stabilise-forex-market-2033237.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.